Irish low-cost carrier Ryanair has reported a record first-half profit and again increased its full-year earnings guidance.
The carrier says in a statement to the London Stock Exchange that profit after tax increased 39% in the fiscal first half ended 30 September on 33% growth in revenue. Net profit amounted to €329 million ($418 million), up from €237 million, and revenue grew to €1.25 billion from €946.2 million.
“Ryanair has again delivered record half-year profits despite intense competition and very high fuel prices,” says chief executive Michael O’Leary.
“The Ryanair lowest fare model has repeatedly proven that it can generate increased profitability and significant passenger growth during difficult trading conditions while many of our competitors are struggling to deliver profits or are losing money.”
Ryanair, which recently launched a takeover bid for Irish flag carrier Aer Lingus, late in September raised its fiscal full-year net profit guidance to around €335 million, representing an 11% increase over the 2005 result.
It says today that it has now increased this further, to €350 million.
Ryanair says the number of passengers carried increased 23% during the half to 22.1 million. Summer yields rose 9% and load factor increased one percentage point as it launched 42 new routes and three new bases. Ancillary revenues were up 27%.
Unit costs increased 7.5% mainly as a result of additional fuel, staff and airport and handling charges. Fuel costs alone rose 42% to €337 million.
Source: FlightGlobal.com
